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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision (benefit) for income taxes consists of the following for the year ended December 31, 2019 and the period from August 1, 2018 through December 31, 2018:

			December 31, 2019				August 1, 2018 to December 31, 2018
Federal		$	-			$	-
State			-				-
Deferred			-				-
Total		$	-			$	-

Schedule of Income Tax Rate

The difference between the actual income tax rate versus the tax computed at the Federal Statutory rate follows:

		December 31, 2019				August 1, 2018 to December 31, 2018
Federal rate			21	%			21	%
State net of federal			3	%			3	%
Non-deductible acquired intangible assets			(18	)%			0	%
Valuation allowance			(6	)%			(24	)%
Effective income tax rate			0	%			0	%

Schedule of Deferred Income Tax Assets and Liabilities

Deferred income tax assets and (liabilities) consist of the following:

		December 31, 2019				December 31, 2018
Deferred tax assets
Net operating loss carryforward		$	1,013,793			$	351,114
Other			3				2,833
Total deferred tax assets			1,013,796				353,947
Valuation allowance			(559,175	)			(353,947	)
Net deferred tax assets			454,621				-
Deferred tax liabilities
Goodwill and intangibles		$	(454,621	)		$	-
Other			-				-
Total deferred tax liabilities			(454,621	)			-
Net deferred taxes		$	-			$	-

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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